Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Adobe Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Nov 29, 2024	Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019
Trade payables	361)	314)	379)	312)	306)	209)
Accrued compensation and benefits	646)	535)	485)	490)	375)	318)
Accrued bonuses	575)	547)	489)	455)	330)	222)
Accrued corporate marketing	176)	132)	154)	96)	134)	80)
Derivative collateral liabilities	168)	50)	—)	—)	—)	—)
Refund liabilities	141)	111)	106)	128)	127)	126)
Sales and use taxes	121)	122)	117)	119)	95)	83)
Other	509)	445)	439)	448)	361)	569)
Accrued expenses	2,336)	1,942)	1,790)	1,736)	1,422)	1,399)
Debt, current portion	1,499)	—)	500)	—)	—)	3,149)
Deferred revenue	6,131)	5,837)	5,297)	4,733)	3,629)	3,378)
Income taxes payable	119)	85)	75)	54)	63)	56)
Current operating lease liabilities	75)	73)	87)	97)	92)	—)
Current liabilities	10,521)	8,251)	8,128)	6,932)	5,512)	8,191)
Debt, excluding current portion	4,129)	3,634)	3,629)	4,123)	4,117)	989)
Deferred revenue	128)	113)	117)	145)	130)	123)
Income taxes payable	548)	514)	530)	534)	529)	616)
Long-term operating lease liabilities	353)	373)	417)	453)	499)	—)
Other liabilities	446)	376)	293)	257)	233)	314)
Long-term liabilities	5,604)	5,010)	4,986)	5,512)	5,508)	2,041)
Total liabilities	16,125)	13,261)	13,114)	12,444)	11,020)	10,232)
Preferred stock, $0.0001 par value; none issued	—)	—)	—)	—)	—)	—)
Common stock, $0.0001 par value	—)	—)	—)	—)	—)	—)
Additional paid-in-capital	13,419)	11,586)	9,868)	8,428)	7,357)	6,505)
Retained earnings	38,470)	33,346)	28,319)	23,905)	19,611)	14,829)
Accumulated other comprehensive loss	(201)	(285)	(293)	(137)	(158)	(188)
Treasury stock, at cost	(37,583)	(28,129)	(23,843)	(17,399)	(13,546)	(10,615)
Stockholders’ equity	14,105)	16,518)	14,051)	14,797)	13,264)	10,530)
Total liabilities and stockholders’ equity	30,230)	29,779)	27,165)	27,241)	24,284)	20,762)

Based on: 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29).

Trade Payables

Trade payables increased overall from 209 million USD in 2019 to 361 million USD in 2024, with some fluctuations along the way. A peak was observed in 2022 at 379 million USD before a decrease in 2023 and subsequent rise in 2024.

Accrued Compensation and Benefits

There is a consistent rising trend over the years, growing from 318 million USD in 2019 to 646 million USD in 2024, indicating increasing personnel-related expenses or accruals.

Accrued Bonuses

Accrued bonuses showed steady growth, rising significantly from 222 million USD in 2019 to 575 million USD in 2024, reflecting higher bonus liabilities.

Accrued Corporate Marketing

Values fluctuated but overall showed an increasing trend from 80 million USD in 2019 to 176 million USD in 2024, with peaks in 2020 and 2022, suggesting variable marketing accruals but generally increasing investment.

Derivative Collateral Liabilities

Data appears starting 2023 with 50 million USD and significantly increased to 168 million USD in 2024, indicating new or expanded derivative-related obligations in recent years.

Refund Liabilities

Relatively stable with minor fluctuations, started at 126 million USD in 2019 and ended at 141 million USD in 2024, suggesting consistent refund-related liabilities.

Sales and Use Taxes

Minor fluctuations were present, but no significant trend is evident, remaining around 80-120 million USD through the reviewed periods.

Other Liabilities

Values varied but showed a general uptick from 569 million USD in 2019 to 509 million USD in 2024 after some decline mid-period, indicating fluctuating other current liabilities.

Accrued Expenses

Steady increase from 1,399 million USD in 2019 to 2,336 million USD in 2024, reflecting rising expenses accrued but not yet paid, correlating with company growth or cost increases.

Debt, Current Portion

This liability is inconsistent in reporting but shows notable values of 3,149 million USD in 2019, 500 million USD in 2022, and 1,499 million USD in 2024, indicating a fluctuating short-term debt position.

Deferred Revenue (Current)

Deferred revenue increased substantially from 3,378 million USD in 2019 to 6,131 million USD in 2024, more than doubling over the period, suggesting growth in prepaid customer payments or unearned revenue.

Income Taxes Payable (Current)

Generally increased from 56 million USD in 2019 to 119 million USD in 2024, indicating a rising tax liability due within the current period.

Current Operating Lease Liabilities

Data begins in 2020 at 92 million USD, with a gradual decline to 75 million USD in 2024, pointing to reduced short-term lease obligations or possibly changes in lease accounting or asset base.

Current Liabilities (Total)

Displayed a complex pattern with a drop in 2020 to 5,512 million USD from 8,191 million USD in 2019, followed by a gradual increase to 10,521 million USD in 2024, showing recovery and growth after an anomalous dip.

Debt, Excluding Current Portion

Long-term debt increased sharply from 989 million USD in 2019 to over 4,000 million USD in subsequent years, holding steady around 4,100 million USD through 2024, indicating significant long-term financing commitments.

Deferred Revenue (Long-term)

Remained fairly stable with minor fluctuations, hovering around 120-145 million USD, showing consistent longer-term deferred revenue obligations.

Income Taxes Payable (Long-term)

Displayed a slight decrease from 616 million USD in 2019 to 548 million USD in 2024, reflecting a moderate reduction in deferred tax liabilities over time.

Long-term Operating Lease Liabilities

Trend shows a steady decline from 499 million USD in 2020 to 353 million USD in 2024, indicative of decreasing long-term lease obligations or lease terminations.

Other Long-term Liabilities

Experienced growth from 314 million USD in 2019 to 446 million USD in 2024, suggesting an increase in other long-term obligations.

Long-term Liabilities (Total)

Spiked from 2,041 million USD in 2019 to approximately 5,600 million USD in 2024, driven mainly by increases in long-term debt and other liabilities, consistent with higher financing or investment activities.

Total Liabilities

Showed a steady increase from 10,232 million USD in 2019 to 16,125 million USD in 2024, indicating overall growth in the company’s obligations and financial leverage.

Equity Items

Additional Paid-in-Capital: Consistently increased from 6,505 million USD in 2019 to 13,419 million USD in 2024, reflecting equity financing or stock-based compensation issuance.
Retained Earnings: Displayed continuous growth from 14,829 million USD in 2019 to 38,470 million USD in 2024, indicating ongoing profitability and earnings retention over the years.
Accumulated Other Comprehensive Loss: Values fluctuate but remain negative, ranging from -188 million USD in 2019 to -201 million USD in 2024, with a moderate increase in loss mid-period before some improvement by 2024.
Treasury Stock, at Cost: Shows a marked increase in negative value from -10,615 million USD in 2019 to -37,583 million USD in 2024, indicating significant share repurchase activity or treasury stock accumulation over time.
Stockholders’ Equity: Non-linear trend with an increase from 10,530 million USD in 2019 to a peak of 16,518 million USD in 2023, followed by a decline to 14,105 million USD in 2024. This reflects fluctuations due to share repurchases, accumulated earnings, and other equity movements.

Total Liabilities and Stockholders’ Equity

Increased from 20,762 million USD in 2019 to 30,230 million USD in 2024, indicating growth in the overall balance sheet size and company assets.

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Adobe Inc. (NASDAQ:ADBE)

Balance Sheet: Liabilities and Stockholders’ Equity